Cadence Bank Grows Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Cadence Bank grew its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 82,929 shares of the specialty chemicals company’s stock after purchasing an additional 2,174 shares during the quarter. Cadence Bank’s holdings in LyondellBasell Industries were worth $7,953,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. CVA Family Office LLC boosted its stake in LyondellBasell Industries by 155.9% in the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 159 shares during the last quarter. Beacon Capital Management LLC purchased a new stake in LyondellBasell Industries in the first quarter valued at approximately $28,000. Matrix Trust Co purchased a new position in LyondellBasell Industries during the third quarter worth approximately $30,000. Blue Trust Inc. increased its holdings in shares of LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 227 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in LyondellBasell Industries in the third quarter valued at $31,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Barclays cut their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Wells Fargo & Company reduced their price objective on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $101.70.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $82.14 on Wednesday. The business has a 50 day moving average price of $89.57 and a two-hundred day moving average price of $94.00. LyondellBasell Industries has a fifty-two week low of $81.45 and a fifty-two week high of $107.02. The firm has a market cap of $26.68 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 2.35 and a beta of 1.08. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The company had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 EPS. Sell-side analysts expect that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 6.53%. The ex-dividend date of this dividend is Monday, December 2nd. LyondellBasell Industries’s payout ratio is currently 81.58%.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.